Here are Thursday’s biggest calls on Wall Street: JMP downgrades Peloton to market perform from outperform JMP downgraded the stock mainly on valuation. “We are downgrading our rating on shares of Peloton from Market Outperform to Market Perform as Peloton reached our prior $16 price target while we leave our FY2024 estimates largely unchanged following … Read more
For years, Wall Street groused about Silicon Valley’s refusal to pay dividends and buy back stock as tech companies grew into cash-generating machines. That is no longer a problem, even though those tech companies are generating fewer profits than they were in previous years. In fact, some tech companies are basically paying off Wall Street … Read more
S&P 500 futures advanced Wednesday night as investors looked beyond the latest interest rate hike and commentary from the Federal Reserve. Futures tied to the broad index added 0.4%. Nasdaq 100 futures gained 1%, helped by Meta shares. Futures connected to the Dow Jones Industrial Average ticked down 9 points, near flat. Meta surged more … Read more
Rafael Henrique | Sopa Images | Lightrocket | Getty Images Check out the companies making headlines in after-hour trading. Meta — The Facebook parent jumped 17% after the company announced a $40 billion stock buyback when reporting quarterly results. Meta beat analysts’ estimates for fourth-quarter revenue, according to Refinitiv. Meta also said it lost $13.7 … Read more
Snapchat logo displayed on a phone screen is seen with a laptop in the background in this illustration photo taken in Krakow, Poland on August 10, 2022. Jakub Porzycki | Nurphoto | Getty Images Check out the companies making headlines in after hours trading. Snap – Shares of social media company Snap sank 14% after … Read more
Snapchat founder and CEO Evan Spiegel attends a session during the Viva Technology show in Paris on June 17, 2022. Eric Piermont | AFP | Getty Images Snap shares slid more than 14% in extended trading on Tuesday after the social media company reported fourth-quarter revenue that trailed analysts’ estimates. Here’s how the company did: … Read more
Stocks traded lower on Monday amid a January rally as investors braced for the busiest week of earnings season and a possible interest rate hike from the Federal Reserve. The Dow Jones Industrial Average slipped 83 points, or about 0.3%. S&P 500 fell 0.6%, and the Nasdaq Composite dropped by 1%. Wall Street is coming … Read more
January’s market rally faces a major test in the week ahead from multiple major events, the most important of which could be the Federal Reserve’s interest rate announcement and press conference. The Fed’s meeting Tuesday and Wednesday comes amid a flood of corporate earnings reports, with about 20% of the S & P 500 reporting … Read more
A U.S. flag is seen outside the New York Stock Exchange (NYSE) in New York City, January 26, 2023. Andrew Kelly | Reuters Here are the most important news items that investors need to start their trading day: 1. On a roll Stocks are headed for a winning week after Thursday’s strong session. The gross … Read more
CNN — The Justice Department and eight states sued Google on Tuesday, accusing the company of harming competition with its dominance in the online advertising market and calling for it to be broken up. The move marks the Biden administration’s first blockbuster antitrust case against a Big Tech company. The eight states joining the suit … Read more